Virginia § 50-73.81 - Effect of partnership agreement; nonwaivable provisions
Full text of Virginia Code of Virginia § 50-73.81 — Effect of partnership agreement; nonwaivable provisions, with citation guidance and answers to common questions.
§ 50-73.81. Effect of partnership agreement; nonwaivable provisions
A. Except as otherwise provided in subsection B, relations among the partners and between the partners and the partnership are governed by the partnership agreement. To the extent the partnership agreement does not otherwise provide, this chapter governs relations among the partners and between the partners and the partnership.
B. The partnership agreement may not:
1. Vary the rights and duties in § 50-73.83 except to eliminate the duty to provide copies of statements to all of the partners;
2. Unreasonably restrict the right of access to books and records in subsection B of § 50-73.101;
3. Eliminate the obligation of good faith and fair dealing in subsection D of § 50-73.102, but the partnership agreement may prescribe the standards by which the performance of the obligation is to be measured, if the standards are not manifestly unreasonable;
4. Vary the power to dissociate as a partner in subsection A of § 50-73.110, except to require the notice in subdivision 1 of § 50-73.109 to be in writing;
5. Vary the right of a court to expel a partner in the events specified in subdivision 5 of § 50-73.109;
6. Vary the requirement to wind up the partnership business in cases specified in subdivisions 4, 5 or 6 of § 50-73.117;
7. Restrict rights of third parties under this chapter without the consent of those third parties; or
8. Vary the law applicable to registered limited liability partnerships as set forth in subsection B of § 50-73.84.
1996, c. 292.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 50-73.81
What does Code of Virginia § 50-73.81 cover?
Section 50-73.81 ("Effect of partnership agreement; nonwaivable provisions") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 50-73.81?
A common citation format is "Code of Virginia § 50-73.81" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 50-73.81 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.